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Survey: Women represent only 20% of senior management in SA

According to PwC's report, some countries have adopted mandatory quotas to increase the participation of women on boards.

FILE: Absa CEO Maria Ramos in front of the new logo for Absa South Africa. Picture: Kayleen Morgan/EWN

JOHANNESBURG - Women in South Africa represent only female 20% senior management and executives, as reported in PriceWaterhouseCoopers (PwC)’s REMchannel July 2018 survey.

Globally, there is renewed focus on the pay disparities between men and women. In many countries, organisations are required to report on the gender pay gap. Although this is not yet the case in South Africa, numerous organisations have taken steps to identify pay disparities at all levels. Many companies have also adopted a long-term view to ensure that diversity and in particular, gender pay inequality is addressed and reported on.

The survey consists of remuneration data for more than 550 participating organisations and just over 4,000 senior managers and executives.

According to PwC's report, some countries have adopted mandatory quotas to increase the participation of women on boards.

In 2008, Norway obliged listed companies to reserve at least 40% of their director seats for women or face dissolution. In the following five years, more than a dozen countries set similar quotas at 30% to 40%. In Belgium, France and Italy, too, firms that fail to comply can be fined, dissolved or banned from paying existing directors. Germany, Spain and the Netherlands prefer soft-law quotas with no sanctions.

The data also indicates that 61% of the females are remunerated below the median of the sample in comparison to 39% of males. In contrast, 63% of males are remunerated above the median in comparison to 37% of females in the sample.

"From this data, it is clear that corporate South Africa still needs to focus on ensuring that female numbers are increased at these levels in addition to addressing gender pay inequalities," says Rene Richter, Director of PwC SA.

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